HC Deb 25 January 1972 vol 829 cc362-3W
Mr. Cant

asked the Chancellor of the Exchequer what proposals he has to extend the agreement reached between the Custom and Excise Authorities and a goldsmith and silversmith group to other retailers to avoid double taxation by purchase tax and value-added tax, by a switch to consignment taxation.

Mr. Higgins

Consignment and similar methods of trading operated between manufacturers or wholesalers and retailers may in certain circumstances defer the supplier's liability to account for purchase tax until retail sale. The tax position is explained in Customs and Excise Notice No. 77 (paragraphs 28 and 42(b)(v)) which is issued to every trader registered for purchase tax.